Press releases

Wits Gold award

MDM awarded Bilboes study

30 July 2013

MDM (AIM: MDM) the minerals process and project management company focused on the mining industry, is pleased to announce that it has been awarded the Pre-Feasibility Study (“PFS”) for Bilboes Holdings (Pvt) Limited’s (“Bilboes”) Matabeleland Claim Project in Zimbabwe (the “Project”).

Bilboes owns and operates four gold mines namely Isabella, Bubi, When and McCays all in the Bubi Greenstone Belt. The mines were acquired from Anglo American Corporation Zimbabwe Limited (AMZIM) in 2003 together with most of AMZIM’s gold mineral rights in Zimbabwe. Since its inception in 1989, Bilboes has produced 234,000oz of gold from oxides through open pit mining and heap leach processing method from its existing mines.

Bilboes' immediate developmental plans are focussed on the completion of pre-feasibility studies for Isabella, McCays and Bubi underlying sulphides.

Kevin Stock, MDM General Manager Proposals said:
 “MDM are pleased to be working on a Zimbabwean project again.  The team has extensive gold experience in Africa, specifically in Zimbabwe, having executed the Ashanti and Delta projects.  We look forward to a successful working relationship with Bilboes.”

Victor Gapare, Bilboes Chief Executive Officer said:
"Bilboes are excited to be able to progress to Pre-Feasibility Study on the sulphide mineralisation at its Matabeleland properties where a total resource containing 4 million ounces of gold was defined last year. We look forward to working with MDM, who have extensive experience in providing studies of this type.” 


MDM Engineering Group Limited

Martin Smith (CEO)
George Bennett (Executive Director)
Dominique de la Roche (Finance Director)
Tel: +27 (0) 11 993 4300

Canaccord Genuity Limited

Andrew Chubb / Joe Weaving
Tel: +44 (0)20 7523 8000

Tavistock Communications Limited

Jos Simson / Emily Fenton
Tel: +44 (0)20 7920 3150

Bilboes Holdings (Private) Limited
Victor Gapare (CEO)                                   
Simba Chimedza (Technical Director)
Tel: +263 4 788151-3

Bilboes Holdings (Pvt) Limited:
Bilboes Holdings (Pvt) Limited is a privately held gold focused mining and exploration company registered and incorporated in Zimbabwe.

Bilboes holds a total of 11,000 hectares in mineral rights (claims) and an additional 198,000 hectares of exploration licence applications otherwise known as Exclusive Prospecting Orders (EPOs). A considerable amount of work has been carried out on the claims including exploration drilling and metallurgical test work which has suggested the potential for a complex of mines producing between 100,000 to 200,000 ounces of gold per annum. To date Bilboes has a JORC code compliant resource in excess of 4.2Moz of gold of which 244,000 ounces are oxides.

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